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Generali

Generali profits up by 7.6%, with positive results across all segments

1st August 2019

Italian insurance giant Generali has reported that its operating result grew by 7.6% to €2.7 billion during the first half of 2019, driven by positive developments across all of its business segments. Operating results improved from €2.5 billion in H1 2018, while net profit also rose 6.4% to €1.3 billion this ... Read the full article

Generali expands in Portugal with €600mn double acquisition from Apollo

19th July 2019

Generali has expanded its presence in Portugal with the acquisition of a local insurance company and service platform from Apollo Global Management, in a deal valued at €600 million. Under the agreement, Generali will acquire 100% of Seguradoras Unidas for €510 million and AdvanceCare for €90 million. Seguradoras Unidas is the second ... Read the full article

Generali (GC&C) appoints Head of Engineering Underwriting for Asia

19th July 2019

Generali Global Corporate & Commercial (GC&C), a subsidiary of the Italian insurance giant, has announced the promotion of Dawood Yeung to Head of Engineering Underwriting for GC&C Asia. Effective from June 1, Yeung is responsible for overseeing GC&C’s Engineering business across the regional market. He has over 19 years of international experience ... Read the full article

Generali Belgium re-named following €540m Athora acquisition

5th June 2019

With its €540 million acquisition having been completed in January, Generali Belgium S.A. has officially been re-named Athora Belgium S.A. The name change represents the final stage in the purchase of Generali Belgium by Athora Holding, first announced in April 2018. Officially, Generali Belgium has been part of Athora since 2 January ... Read the full article

Generali to sell UK life run-off portfolio to Reinsurance Group of America

24th May 2019

Italian insurer Generali has entered into an agreement with Reinsurance Group of America (RGA) for the sale of the life run-off portfolio of its UK branch. As part of the transaction, Generali has signed a reinsurance contract that will cover all claims payments arising from most of the legacy business, with ... Read the full article

Generali elects Frédéric de Courtois VP of Insurance Europe

23rd May 2019

Italian insurance giant Generali Group has elected its General Manager Frédéric de Courtois as Vice President of Insurance Europe, the European insurance and reinsurance federation. Courtois, who has been elected to serve for a three-year term, began his career in the insurance sector in 1993, holding several management positions in various ... Read the full article

Generali elects new Board members, approves financial statements

9th May 2019

Assicurazioni Generali S.p.A. has announced the election of 13 members of its Board of Directors following its recent shareholders meeting. Shareholders also approved the financial statements for the year 2018, which closed with a net profit of €1,473 million, and announced the distribution to the shareholders of a dividend of €0.90 ... Read the full article

Francesco Martorana appointed CEO of Generali’s asset management arm

23rd April 2019

Generali Insurance Asset Management S.p.A. Società di gestione del risparmio (GIAM), a division of the Italian insurance giant, has appointed Francesco Martorana as Chief Executive Officer. Martorana replaces Santo Borsellino, who becomes Chairman of the Board of GIAM as well as Head of Generali’s asset and wealth management business unit Martorana also ... Read the full article

Generali turns to blockchain for enhanced employee benefits offering

16th April 2019

Professional services firm Accenture and Generali Employee Benefits (GEB) have announced a blockchain-powered solution aimed at enabling participants in the reinsurance process for captive or pooling services to access the same data and reduce processing errors via smart contracts and automated reconciliation. The solution is expected to streamline GEB’s employee benefit ... Read the full article

Generali completes sale of Worldwide & Link units to LCCG

1st March 2019

Italian insurance giant Assicurazioni Generali SpA has completed the sale of its entire holdings in Generali Worldwide Insurance Company Limited and Generali Link to Life Company Consolidation Group (LCCG). Originally announced in July 2018, the transactions form part of Generali Group’s strategy to improve its operational efficiency, while improving capital allocation ... Read the full article

Athora completes purchase of Generali Belgium for €540m

2nd January 2019

Athora Holding, together with its' Athora subsidiaries, has completed the acquisition of Generali’s Belgian business, for a cash consideration of approximately €540 million ($613 million). Primarily focused on the life segment, Generali Belgium is the 11th largest insurer in Belgium and serves around 420,000 customers through a team of 430 members ... Read the full article

Generali completes stake increase in Indian joint ventures

2nd January 2019

Italian insurance giant Generali has finalised its previously announced plans to increase its stakes in Future Generali insurance joint ventures in India from 25.5% to 49%. The completion of the transaction saw Generali commit approximately €120 million to the Future Group, a platform and customer ecosystem that offers digital insurance ... Read the full article

Generali gets regulatory go-ahead for UK legacy portfolio transfer to Compre

20th December 2018

Italian insurance giant Generali has received regulatory approval for the non-life legacy portfolio transfer of its UK branch to independent re/insurance legacy specialist Compre. The transaction, which was signed last December and also included the non-life run-off portfolio of Generali’s U.S branch, was structured as an upfront reinsurance solution by ... Read the full article

Generali’s new strategic plan is credit positive, says Moody’s

3rd December 2018

The new 3-year strategic plan from Italian insurance giant Generali is broadly credit positive, according to analysts at Moody’s Investors Service, as it targets debt reduction and greater earnings diversification. The insurer announced its ‘Generali 2021’ growth plan last week alongside claims that it was on track to hit all ... Read the full article

Generali reveals 3-year growth plan, hits 2018 targets

26th November 2018

Italian insurance giant Generali has unveiled its new 3-year strategic plan after posting strong results for 2017 and claiming that it was on track to hit its financial and industrial targets for 2018. The company achieved a property and casualty (P&C) combined ratio of 92.8% and a life new business margin ... Read the full article

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